The Reserve Bank of India to remove Corporation bank and Allahabad bank out of the Prompt Corrective Action (PCA) supervision

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The move out of the PCA framework is as a result of the recent capital infusion of Rs 48 239 crore in 12 public sector banks
Corporation bank will benefit from around Rs 9,086 crore of funding, Allahabad is to benefit from Rs 6,896 crore. The capital will help these two banks attain the necessary capital thresholds of 7.375 CET-1 ratio, 8.875% Tier 1 ratio, 10.875% capital to risk weighted assets ratio and the net non-performing assets ratio of below 6%.

The Economic Times, February 24, 2019